View Filing Data

463,463

553,323

445,969

Prepaid income taxes

2,132

15,058

16,845

INVESTMENTS IN UNCONSOLIDATED AFFILIATES

102,072

51,014

55,474

Total current assets

1,067,861

959,601

841,634

63,161

62,422

60,002

PROPERTY AND EQUIPMENT, NET

95,269

97,857

100,102

OTHER ASSETS, NET

33,709

32,478

35,304

OTHER INTANGIBLES, NET

45,406

46,405

47,797

DEFERRED INCOME TAX ASSETS, NET

27,982

11,439

15,901

TRADEMARKS

443,900

442,265

436,147

GOODWILL

263,275

262,710

266,901

TOTAL ASSETS

2,040,563

1,915,177

1,803,788

CURRENT LIABILITIES

Income tax payable

19,748

Accounts payable

152,854

232,364

164,521

86,058

95,055

75,197

Total current liabilities

214,693

453,605

347,167

239,718

NOTES PAYABLE, net of note discount and unamortized issuance costs

448,263

391,044

492,796

DEFERRED INCOME TAX LIABILITIES, NET

16,388

15,888

14,536

OTHER NON-CURRENT LIABILITIES

39,383

40,389

40,678

TOTAL LIABILITIES

957,639

794,488

787,728

STOCKHOLDERS' EQUITY

Preferred stock; 1,000 shares authorized; No shares issued and outstanding

Common stock - $0.01 par value; 120,000 shares authorized; 49,225, 49,031 and 49,219 shares issued, respectively

262

245

253

Additional paid-in capital

454,398

451,844

442,897

Accumulated other comprehensive loss

(2,086)

(5,522)

(27,654)

Common stock held in treasury, at cost - 72, 369 and 106 shares, respectively

630,633

674,542

602,027

(283)

(420)

(1,463)

TOTAL STOCKHOLDERS' EQUITY

1,082,924

1,120,689

1,016,060

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$ 2,040,563

$ 1,915,177

$ 1,803,788

[1]	Also, net of accrued returns and sales discounts

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares shares in Thousands	Apr. 30, 2018	Jan. 31, 2018	Apr. 30, 2017
Statement Of Financial Position [Abstract]
Preferred stock, shares authorized	1,000	1,000	1,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	120,000	120,000	120,000
Common stock, shares issued	49,225	49,219	49,031
Treasury stock, shares	72	106	369

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

Apr. 30, 2018

Apr. 30, 2017

^[1]

Income Statement [Abstract]

$ 611,743

$ 529,042

^[2]

377,216

327,326

234,527

201,716

202,071

197,411

9,380

9,838

Interest and financing charges, net

23,076

(5,533)

Other loss

(451)

(1,232)

(9,620)

(9,729)

Income (loss) before income taxes

13,005

(16,494)

Income tax expense (benefit)

3,120

(6,103)

Net income (loss)

$ 9,885

$ (10,391)

Basic:

Net income (loss) per common share (in dollars per share)

$ 0.20

$ (0.21)

Weighted average number of shares outstanding (in shares)

49,127

48,648

Diluted:

Net income (loss) per common share (in dollars per share)

$ 0.20

$ (0.21)

Weighted average number of shares outstanding (in shares)

50,137

48,648

Net income (loss)

$ 9,885

$ (10,391)

Other comprehensive income:

Foreign currency translation adjustments

3,436

Other comprehensive income

3,436

Comprehensive income (loss)

$ 13,321

$ (10,323)

[1]	(As Adjusted)
[2]	Certain reclassifications have been made between the wholesale operations segment and the elimination column as a result of sales eliminations within the wholesale operations segment being misclassified as inter-segment eliminations.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands

3 Months Ended

Apr. 30, 2018

Apr. 30, 2017

Cash flows from operating activities

Net income (loss)

$ 9,885

$ (10,391)

Adjustments to reconcile net income (loss) to net cash used in operating activities:

Loss on disposal of fixed assets

9,380

9,838

^[1]

184

Equity loss in unconsolidated affiliates

1,339

1,152

Share-based compensation

3,774

4,955

Deferred financing charges and debt discount amortization

2,468

3,779

Changes in operating assets and liabilities:

Accounts receivable, net

(134,589)

7,739

90,182

37,445

Income taxes, net

(6,838)

(10,206)

(62,334)

(8,503)

Other assets, net

(4,161)

349

Accounts payable, accrued expenses and other liabilities

148,101

(81,575)

(69,561)

Net cash used in operating activities

(24,315)

(33,220)

Cash flows from investing activities

Capital expenditures

(5,330)

(5,729)

Net cash used in investing activities

(5,330)

(5,729)

Cash flows from financing activities

Repayment of borrowings - revolving facility

(464,453)

(355,680)

Proceeds from borrowings - revolving facility

519,827

384,557

Proceeds from exercise of equity awards

169

Taxes paid for net share settlement

(1,085)

Net cash provided by financing activities

54,345

29,046

Foreign currency translation adjustments

572

(2,920)

Net increase (decrease) in cash and cash equivalents

25,272

(12,823)

Cash and cash equivalents at beginning of period

45,776

79,957

Cash and cash equivalents at end of period

71,048

67,134

Cash payments:

Interest, net

6,578

7,205

Income tax payments, net

$ 9,930

$ 1,980

[1]	(As Adjusted)

Basis of Presentation

3 Months Ended

Apr. 30, 2018

Accounting Policies [Abstract]

Basis of Presentation

Note 1 – Basis of Presentation

As used in these financial statements, the term “Company” or “G-III” refers to G-III Apparel Group, Ltd. and its subsidiaries. The Company designs, manufactures and markets an extensive range of apparel, including outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage. The Company also operates retail stores and licenses its proprietary brands under several product categories.

The Company consolidates the accounts of all its wholly-owned and majority-owned subsidiaries. KL North America BV (“KLNA”) and Fabco Holding B.V. (“Fabco”) are Dutch limited liability companies that are joint ventures that are 49% owned by the Company. Karl Lagerfeld Holding B.V. (“KLH”) is a Dutch limited liability company that is 19% owned by the Company. These investments are accounted for using the equity method of accounting. All material intercompany balances and transactions have been eliminated. Vilebrequin International SA (“Vilebrequin”), a Swiss corporation that is wholly-owned by the Company, KLH and KLNA report results on a calendar year basis rather than on the January 31 fiscal year basis used by the Company. The Company’s retail stores use a 52/53-week fiscal year. The Company’s three months ended April 30, 2017 and 2018 were both a 13-week fiscal quarter for the retail operations segment. For fiscal 2018 and 2019, the retail operations segment three month periods ended on April 29, 2017 and May 5, 2018, respectively.

The results for the three-month period ended April 30, 2018 are not necessarily indicative of the results expected for the entire fiscal year, given the seasonal nature of the Company’s business. The accompanying financial statements included herein are unaudited. All adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of the financial position, results of operations and cash flows for the interim period presented have been reflected.

The accompanying financial statements should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2018 filed with the Securities and Exchange Commission (the “SEC”).

Each of the Company’s international subsidiaries uses its local currency as its functional currency. In accordance with the authoritative guidance, assets and liabilities of the Company’s foreign operations are translated from foreign currency into U.S. dollars at period-end rates, while income and expenses are translated at the weighted-average exchange rates for the period. The related translation adjustments are reflected as a foreign currency translation adjustment in accumulated other comprehensive income (loss) within stockholders’ equity.

Certain reclassifications have been made to the Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) as a result of the Company’s reclassifying the impact of certain components of foreign currency gain (loss) from cost of goods sold and interest expense to other income. This change resulted in an increase in cost of goods sold, a decrease in interest and financing charges, net and a decrease in other loss for the three months ended April 30, 2017, compared to the amounts previously reported.

Revenue Recognition

3 Months Ended

Apr. 30, 2018

Revenue Recognition [Abstract]

Revenue Recognition

Note 2 – Revenue Recognition

On February 1, 2018, the Company adopted Accounting Standard Codification Topic 606 (“ASC 606”) using the modified retrospective method as of January 31, 2018. The Company recognized a cumulative effect adjustment to the opening balance of stockholders’ equity at February 1, 2018 that reduced stockholders’ equity by $53.7 million, net of tax, as a result of the adoption of ASC 606.

Prospectively, the adoption of ASC 606 primarily affects the timing of recognition of certain adjustments that are recorded in net sales for the wholesale operations segment. Under ASC 606, revenue is recognized upon the transfer of goods to customers in an amount that reflects the expected consideration to be received in exchange for these goods. The difference between the amount initially billed and the amount collected represents variable consideration. Variable consideration includes trade discounts, end of season markdowns, sales allowances, cooperative advertising, return liabilities and other customer allowances. Under ASC 606, the Company estimates the anticipated variable consideration and records this estimate as a reduction of revenue in the period the related product revenue is recognized. Prior to adopting ASC 606, certain components of variable consideration were recorded at a later date when the liability was known or incurred.

The adoption of ASC 606 also resulted in changing the presentation of certain items on the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) on a go forward basis. Under the prior guidance, the liability recorded in connection with variable consideration was recorded as a reduction to accounts receivable. With the adoption of ASC 606, these amounts have been classified in the Condensed Consolidated Balance Sheet under “Customer refund liabilities” which is a current liability. Additionally, on a go forward basis, with respect to the Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss), the Company classified cooperative advertising as a reduction of net sales. Previously, cooperative advertising was recorded in selling, general and administrative expenses. ASC 606 requires that costs expected to be incurred when products are returned should be accrued for upon the sale of the product as a component of cost of goods sold. These restocking costs were previously recognized when incurred and recorded in selling, general and administrative expenses.

The following tables summarize the impact of adopting ASC 606 on the Company's Condensed Consolidated Balance Sheet as of April 30, 2018 and the Company's Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the three months ended April 30, 2018:

	April 30, 2018 (In thousands)
	As Reported		Without Adoption of ASC 606		Impact of Adoption of ASC 606
Assets
Accounts receivable, net	$	429,146		282,902		146,244
Inventories		463,463		502,819		(39,356	)
Prepaid expenses and other current assets		102,072		62,859		39,213
Deferred income tax assets, net		27,982		11,438		16,544

Liabilities
Accrued expenses	$	86,058		82,648		3,410
Customer refund liabilities		214,693		-		214,693

Equity
Retained earnings		630,633		686,091		(55,458	)

	For the three months ended April 30, 2018 (In thousands)
	As Reported		Without Adoption of ASC 606		Impact of Adoption of ASC 606
Net sales	$	611,743		619,341		(7,598	)
Cost of goods sold		377,216		376,163		1,053
Selling general and administrative expenses		202,071		208,723		(6,652	)
Income tax expense		3,120		3,389		(269	)
Net income		9,885		11,615		(1,730	)

Earnings per share
Basic		0.20		0.24		(0.04	)
Diluted		0.20		0.23		(0.03	)

The adoption of ASC 606 had no impact on the Company’s cash flows from operations, with the exception of offsetting charges in working capital balances.

Disaggregation of revenue

In accordance with ASC 606, the Company elected to disclose its revenue by segment. Each segment presents its own characteristics with respect to the timing of revenue recognition and the type of customer. In addition, disaggregating the revenue using a segment basis is consistent with how the Company’s Chief Operating Decision Maker manages the Company. The Company identified wholesale and direct to consumer, which includes retail store sales and e-commerce sales, as distinct sources of revenue.

Wholesale. Wholesale revenue includes sales of products to retailers under brands licensed by the Company from third parties, as well as sales of products under owned and private label brands. Wholesale revenue is recognized when control transfers to the customer. The Company considers control to have been transferred when the Company has transferred physical possession of the product and has a right to payment, the customer has legal title to the product, and the customer has the significant risks and rewards of the product. Wholesale revenue is adjusted by variable considerations arising from implicit or explicit obligations. Wholesale revenue also includes licensing revenue, which consists of royalties earned through licensing the Company’s proprietary brands to licensees. As of April 30, 2018, licensing revenue represented an insignificant portion of wholesale revenue.

Direct to consumer. Retail store revenue is generated by direct sales to consumers through company-operated stores. Retail stores primarily consist of Wilsons Leather, G.H. Bass and DKNY retail stores, substantially all of which are operated as outlet stores. Retail revenue is recognized at the point of sale when the customer takes possession of the goods and tenders payment. E-commerce revenue primarily consists of sales to consumers through the Company’s e-commerce platforms. E-commerce revenue is recognized when the customers take possession of the goods.

The disaggregation of revenue is consistent with our segment reporting. Please refer to note 7 for further details.

Variable consideration

The Company provides customers with discounts, rebates, credit returns and price concessions. The Company may also contribute to customers’ promotional activities or incur charges for compliance violations. These adjustments to the initial selling price often occur after the sales process is completed.

The Company identified the following elements of variable consideration:

Markdowns. Markdown allowances consist of accommodations in the form of price reductions to customers for purchased merchandise. In general, markdowns are granted to full price customers, such as department stores. Markdowns may vary year-over-year and are granted based on the performance of Company merchandise at customer retail stores.

Term discounts. Term discounts represent a discount from the initial wholesale sales price to certain customers consistent with customary industry practice.

Sales Allowances. Sales allowances are reductions of the selling price agreed upon with customers. Sales allowances may be contractual or may be granted on a case-by-case basis. Non-contractual sales allowances may be granted in connection with volume discounts, billing adjustments and, in some cases, for product related issues.

Advertising Allowances. Advertising allowances consist of the Company’s financial participation in its customers’ promotional efforts. Customers may charge back a portion of the advertising expense incurred against open invoices. Advertising programs are generally agreed upon at the beginning of a season.

Other Allowances. General allowances consist of price reductions granted to a customer and may relate to the Company’s participation in costs incurred by the customer during the sales process as well as price differences, shortages and charges for operational non-compliance.

Right of Return. The Company may make accommodations for customers to return merchandise that is underperforming at their retail stores. Direct to consumer customers have 90 days to return merchandise from date of purchase.

Variable consideration is estimated based on historical experience, current contractual and statutory requirements, specific known events and industry trends. The reserves for variable consideration are recorded under customer refund liabilities. As of April 30, 2018, the customer refund liabilities amounted to $214.7 million. Historical return rates are calculated on a product line basis. The remainder of the variable consideration historical rates are calculated by customer by product lines.

Contract balances

Contract liabilities. An entity should recognize a contract liability if the customer’s payment of consideration precedes the entity’s performance. The Company had contract liability of $1.8 million as of April 30, 2018 and January 31, 2018 related to the issuance of gift cards. The Company runs a limited loyalty program where customers accumulate points redeemable for cash discount certificates that expire 90 days after issuance. The Company does not disclose the remaining performance obligation related to contracts with durations of one year or less as allowed by such contracts.

Inventories

3 Months Ended

Apr. 30, 2018

Inventory Disclosure [Abstract]

Fair Value of Financial Instruments

Note 3 – Inventories

Substantially all of the Company’s inventories consist of finished goods. Wholesale inventories are stated at the lower of cost (determined by the first-in, first-out method) or net realizable value, which comprises a significant portion of the Company’s inventory. Retail inventories are valued at the lower of cost or market as determined by the retail inventory method. Vilebrequin inventories are stated at the lower of cost (determined by the weighted average method) or net realizable value.

The inventory return asset, which consists of the amount of goods that are anticipated to be returned by customers, represented $39.4 million as of April 30, 2018 and January 31, 2018 and $25.3 million as of April 30, 2017. The inventory return asset is recorded under prepaid expenses and other current assets as of April 30, 2018 and under inventories as of January 31, 2018 and April 30, 2017.

Fair Value of Financial Instruments

3 Months Ended

Apr. 30, 2018

Fair Value Disclosures [Abstract]

Note 4 – Fair Value of Financial Instruments

GAAP establishes a three-level valuation hierarchy for disclosure of fair value measurements. The determination of the applicable level within the hierarchy for a particular asset or liability depends on the inputs used in its valuation as of the measurement date, notably the extent to which the inputs are market-based (observable) or internally-derived (unobservable). A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows:

Level 1 — inputs to the valuation methodology based on quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 — inputs to the valuation methodology based on quoted prices for similar assets or liabilities in active markets for substantially the full term of the financial instrument; quoted prices for identical or similar instruments in markets that are not active for substantially the full term of the financial instrument; and model-derived valuations whose inputs or significant value drivers are observable.

Level 3 — inputs to the valuation methodology based on unobservable prices or valuation techniques that are significant to the fair value measurement.

The carrying amount of the Company’s variable rate debt approximates the fair value, as interest rates change with the market rates. Furthermore, the carrying value of all other financial instruments potentially subject to valuation risk (principally consisting of cash, accounts receivable and accounts payable) also approximates fair value due to the short-term nature of these accounts.

The following table summarizes the carrying values and the estimated fair values of the Company’s debt instruments:

			Carrying Value				Fair Value
Financial Instrument	Level		4/30/2018		1/31/2018		4/30/2018		1/31/2018
			(in thousands)
Term Loan		3	$	300,000	$	300,000	$	300,000	$	300,000
Revolving credit facility		3	$	67,377	$	12,003	$	67,377	$	12,003
Note issued to LVMH		3	$	92,860	$	91,667	$	85,000	$	85,000

The Company's debt instruments are recorded at their carrying values in its condensed consolidated balance sheets, which may differ from their respective fair values. For purposes of this fair value disclosure, the Company based its fair value estimate for the Term Loan and revolving credit facility (each, as defined in Note 6) on its internal valuation whereby the Company applied the discounted cash flow method to its expected cash flow payments due under the loan agreements based on market interest rate quotes as of April 30, 2018 and January 31, 2018 for debt with similar risk characteristics and maturities.

Non-Financial Assets and Liabilities

The Company's non-financial assets, which primarily consist of goodwill, other intangible assets and property and equipment, are not required to be measured at fair value on a recurring basis and are reported at carrying value. However, whenever events or changes in circumstances indicate that their carrying value may not be fully recoverable (and at least annually for goodwill and indefinite-lived intangible assets), non-financial instruments are assessed for impairment and, if applicable, written down to and recorded at fair value, considering external market participant assumptions. No events or circumstances indicate an impairment has been identified subsequent to the Company’s January 31, 2018 impairment testing.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Net Income (Loss) per Common Share

3 Months Ended

Apr. 30, 2018

Net Income (Loss) per Common Share

Note 5 – Net Income (Loss) per Common Share

Basic net income (loss) per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share, when applicable, is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock awards and stock options outstanding during the period. Approximately 341,700 shares of common stock have been excluded from the diluted net income per share calculation for the three months ended April 30, 2018. All share based payments outstanding that vest based on the achievement of performance and/or market price conditions, and for which the respective performance and/or market price conditions have not been achieved, have been excluded from the diluted per share calculation. For the three months ended April 30, 2018, the Company issued 6,000 shares of common stock and utilized 34,515 shares of treasury stock in connection with the exercise or vesting of equity awards. For the three months ended April 30, 2017, the Company issued 14,275 shares of common stock and utilized 6,800 shares of treasury stock in connection with the exercise or vesting of equity awards.

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income (loss) per share:

	Three Months Ended April 30,
	2018		2017

Net income (loss)	$	9,885	$	(10,391	)
Basic net income (loss) per share:
Basic common shares		49,127		48,648
Basic net income (loss) per share	$	0.20	$	(0.21	)

Diluted net income (loss) per share:
Basic common shares		49,127		48,648
Diluted restricted stock awards and stock options		1,010		—
Diluted common shares		50,137		48,648
Diluted net income (loss) per share	$	0.20	$	(0.21	)

Notes Payable

3 Months Ended

Apr. 30, 2018

Debt Disclosure [Abstract]

Notes Payable

Note 6 – Notes Payable

Long-term debt consists of the following:

	April 30, 2018			April 30, 2017			January 31, 2018

Term loan	$	300,000		$	300,000		$	300,000
Revolving credit facility		67,377			120,000			12,003
Note issued to LVMH		125,000			125,000			125,000
Subtotal		492,377			545,000			437,003
Less: Net debt issuance costs⁽¹⁾		(11,974	)		(14,585	)		(12,626	)
Debt discount		(32,140	)		(37,619	)		(33,333	)
Total	$	448,263		$	492,796		$	391,044

(1)

Does not include the debt issuance costs, net of amortization, totaling $8.9 million, $11.3 million and $9.5 million as of April 30, 2018, April 30, 2017 and January 31, 2018, respectively, related to the revolving credit facility. The debt issuance costs have been deferred and are classified in prepaid expenses and other current assets in the accompanying Condensed Consolidated Balance Sheets as required under Accounting Standards Update (“ASU”) 2015-15.

Term Loan

In connection with the acquisition of Donna Karan International Inc. (“DKI”), the Company borrowed $350.0 million under a senior secured term loan facility (the “Term Loan”). The Term Loan will mature in December 2022. The Term Loan was subject to amortization payments of 0.625% of the original aggregate principal amount of the Term Loan per quarter, with the balance due at maturity. On December 1, 2016, the Company prepaid $50.0 million in principal amount of the Term Loan. This prepayment relieved G-III of its obligation to make quarterly amortization payments for the remainder of the term.

Interest on the outstanding principal amount of the Term Loan accrues at a rate equal to LIBOR, subject to a 1% floor, plus an applicable margin of 5.25% or an alternate base rate (defined as the greatest of (i) the “prime rate” as published by the Wall Street Journal from time to time, (ii) the federal funds rate plus 0.5% or (iii) the LIBOR rate for a borrowing with an interest period of one month) plus 4.25%, per annum, payable in cash. As of April 30, 2018, interest under the Term Loan was being paid at an average rate of 7.01% per annum.

The Term Loan is secured by certain assets of the Company and certain of its subsidiaries. The Term Loan contains covenants that restrict the Company’s ability to among other things, incur additional debt, sell or dispose certain assets, make certain investments, incur liens and enter into acquisitions. This loan also includes a mandatory prepayment provision on excess cash flow as defined within the agreement. A first lien leverage covenant requires the Company to maintain a level of debt to EBITDA at a ratio as defined over the term of the agreement. As of April 30, 2018, the Company was in compliance with this covenant.

Revolving Credit Facility

Upon closing of the acquisition of DKI, the Company’s previous credit agreement was refinanced and replaced by a $650 million amended and restated credit agreement (the “revolving credit facility”). Amounts available under the revolving credit facility are subject to borrowing base formulas and over advances as specified in the revolving credit facility agreement. Borrowings bear interest, at the Company’s option, at LIBOR plus a margin of 1.25% to 1.75% or an alternate base rate (defined as the greatest of (i) the “prime rate” of JPMorgan Chase Bank, N.A. from time to time, (ii) the federal funds rate plus 0.5% or (iii) the LIBOR rate for a borrowing with an interest period of one month) plus a margin of 0.25% to 0.75%, with the applicable margin determined based on the availability under the revolving credit facility agreement. As of April 30, 2018, interest under the revolving credit agreement was being paid at an average rate of 3.59% per annum. The revolving credit facility has a five-year term ending December 1, 2021. In addition to paying interest on any outstanding borrowings under the revolving credit facility, the Company is required to pay a commitment fee to the lenders under the credit agreement with respect to the unutilized commitments. The commitment fee accrues at a rate equal to 0.25% per annum on the average daily amount of the unutilized commitments.

As of April 30, 2018, the Company had $67.4 million of borrowings outstanding under the revolving credit facility all of which are classified as long-term liabilities. As of April 30, 2018, there were outstanding trade and standby letters of credit amounting to $13.9 million and $3.4 million, respectively.

LVMH Note

As part of the consideration for the acquisition of DKI, the Company issued to LVMH Moet Hennessy Louis Vuitton Inc. (“LVMH”) a junior lien secured promissory note in the principal amount of $125.0 million (the “LVMH Note”) that bears interest at the rate of 2% per year. $75.0 million of the principal amount of the LVMH Note is due and payable on June 1, 2023 and $50.0 million of such principal amount is due and payable on December 1, 2023. Accounting Standards Codification (“ASC”) 820 - Fair Value Measurements requires the note to be recorded at fair value. As a result, the Company recorded a debt discount in the amount of $40.0 million. This discount is being amortized as interest expense using the effective interest method over the term of the LVMH Note.

Segments

3 Months Ended

Apr. 30, 2018

Segment Reporting [Abstract]

Segments

Note 7 – Segments

The Company’s reportable segments are business units that offer products through different channels of distribution. The Company has two reportable segments: wholesale operations and retail operations. The wholesale operations segment includes sales of products under brands licensed by the Company from third parties, as well as sales of products under the Company’s own brands and private label brands. Wholesale sales and revenues from license agreements related to the Donna Karan, DKNY, G.H. Bass, Andrew Marc and Vilebrequin businesses are included in the wholesale operations segment. The retail operations segment consists primarily of the Wilsons Leather, G.H. Bass and DKNY stores, as well as a limited number of Calvin Klein Performance and Karl Lagerfeld Paris stores. Sales through the Company’s owned websites are also included in the retail operations segment.

The following information, in thousands, is presented for the three month periods indicated below:

	Three Months Ended April 30, 2018
	Wholesale		Retail			Elimination ⁽¹⁾			Total
Net sales	$	527,673	$	104,519		$	(20,449	)	$	611,743
Cost of goods sold		341,575		56,090			(20,449	)		377,216
Gross profit		186,098		48,429			—			234,527
Selling, general and administrative		136,413		65,658			—			202,071
Depreciation and amortization		7,136		2,244			—			9,380
Operating profit (loss)	$	42,549	$	(19,473	)	$	—		$	23,076

	Three Months Ended April 30, 2017
	Wholesale		Retail			Elimination ⁽¹⁾			Total
Net sales ⁽²⁾	$	453,313	$	99,185		$	(23,456	)	$	529,042
Cost of goods sold		298,300		52,482			(23,456	)		327,326
Gross profit		155,013		46,703			—			201,716
Selling, general and administrative		130,160		67,251			—			197,411
Depreciation and amortization		6,385		3,453			—			9,838
Operating profit (loss)	$	18,468	$	(24,001	)	$	—		$	(5,533	)

⁽¹⁾

Represents intersegment sales to the Company’s retail operations.

⁽²⁾

Certain reclassifications have been made between the wholesale operations segment and the elimination column as a result of sales eliminations within the wholesale operations segment being misclassified as inter-segment eliminations.

The total assets for each of the Company’s reportable segments, as well as assets not allocated to a segment, are as follows:

	April 30, 2018		April 30, 2017		January 31, 2018
	(In thousands)
Wholesale	$	1,655,714	$	1,459,142	$	1,554,191
Retail		211,475		205,024		215,568
Corporate		173,374		139,622		145,418
Total Assets	$	2,040,563	$	1,803,788	$	1,915,177

Final Tax Adjustment of Donna Karan International acquisition

3 Months Ended

Apr. 30, 2018

Business Combinations [Abstract]

Final Tax Adjustment of Donna Karan International acquisition

Note 8 – Final Tax Adjustment of Donna Karan International acquisition

On February 5, 2018, the Company paid $4.6 million to LVMH for the final tax adjustment related to the Company’s election under Internal Revenue Code Section 338(h)(10) in connection with the acquisition of DKI.

Canadian Customs Duty Examination	3 Months Ended
Canadian Customs Duty Examination	Apr. 30, 2018
Canadian Customs Duty Examination [Abstract]
Canadian Customs Duty Examination	Note 9 – Canadian Customs Duty Examination In October 2017, the Canada Border Service Agency (“CBSA”) issued a final audit report to G-III Apparel Canada ULC (“G-III Canada”), our wholly-owned subsidiary. The report challenged the valuation used by G-III Canada for certain goods imported into Canada. The period covered by the examination is February 1, 2014 through the date of the final report, October 27, 2017. The CBSA has requested G-III Canada to reassess its customs entries for that period using the price paid or payable by the Canadian retail customers for certain imported goods rather than the price paid by G-III Canada to the vendor. The CBSA has also requested that G-III Canada change the valuation method used to pay duties with respect to goods imported in the future. On March 14, 2018, G-III Canada provided a bond to the CBSA to secure payment of the additional duties payable as a result of the reassessment required by the final audit report. The Company issued a bond in the amount of CAD$26.9 million ($20.9 million) representing customs duty and interest through December 31, 2017 that is claimed to be owed to the CBSA. In March 2018, we amended the duties filed for the month of January 2018 under the new valuation method. The additional duty claimed to be owed for January 2018 was approximately CAD$1.4 million ($1.1 million) which is under review by the CBSA. Beginning February 1, 2018, we began paying duties based on the new valuation method. The additional duties paid beginning on February 1, 2018 on the higher dutiable value will not be charged as an expense in our statement of operations, but will be recorded as a deferred expense until the appeal process has concluded. Amounts deferred for the three months ended April 30, 2018, related to the higher dutiable values, were $1.9 million. G-III Canada, based on the advice of counsel, believes it has positions that support its ability to receive a refund of amounts claimed to be owed to the CBSA on appeal and intends to vigorously contest the findings of the CBSA. G-III Canada filed its appeal with the CBSA in May 2018.

Recent Adopted and Issued Accounting Pronouncements

3 Months Ended

Apr. 30, 2018

Accounting Changes And Error Corrections [Abstract]

Recent Adopted and Issued Accounting Pronouncements

Note 10 – Recent Adopted and Issued Accounting Pronouncements

Recently Adopted Accounting Guidance

In May 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-09, “Compensation — Stock Compensation (Topic 718): Scope of Modification Accounting.” ASU 2017-09 provides clarification on when modification accounting should be used for changes to the terms or conditions of a share-based payment award. ASU 2017-09 does not change the accounting for modifications but clarifies that modification accounting guidance should only be applied if there is a change to the value, vesting conditions or award classification and would not be required if the changes are considered non-substantive. The amendments of ASU 2017-09 are effective for reporting periods beginning after December 15, 2017. The Company adopted the provisions of ASU 2017-09 during the first quarter of fiscal 2019. The adoption of ASU 2017-09 did not have any impact on the Company’s condensed consolidated financial statements.

In December 2017, the SEC staff issued Staff Accounting Bulletin (SAB) 118 to provide guidance for companies that have not completed their accounting for the income tax effects of the Tax Cuts and Jobs Act (“TCJA”). Due to the complexities of the TCJA, our final tax liability may materially differ from provisional estimates due to additional guidance and regulations issued by the U.S. Treasury Department, the Internal Revenue Service (“IRS”) and state and local tax authorities. G-III will finalize its accounting for the TCJA during the one-year measurement period, and any adjustments to the provisional amounts will be included in income tax expense or benefit in the appropriate periods, and disclosed if material, in accordance with guidance provided by SAB 118. As of April 30, 2018, we have not identified or recorded adjustments to the provisional amounts previously disclosed in our Annual Report on Form 10-K for the year ended January 31, 2018.

In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business.” The purpose of ASU 2017-01 is to clarify the definition of a business to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within that year. The amendments in ASU 2017-01 should be applied prospectively on or after the effective date. The Company adopted the provisions of ASU 2017-01 during the first quarter of fiscal 2019. The adoption of ASU 2017-01 did not have any impact on the Company’s condensed consolidated financial statements.

In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The update requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset upon transfer other than inventory, eliminating the current recognition exception. Prior to the update, GAAP prohibited the recognition of current and deferred income taxes for intra-entity asset transfers until the asset was sold to an outside party. The amendments in this update do not include new disclosure requirements; however, existing disclosure requirements might be applicable when accounting for the current and deferred income taxes for an intra-entity transfer of an asset other than inventory. For public business entities, the amendments in this update are effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those fiscal years. The Company adopted the provisions of ASU 2016-16 during the first quarter of fiscal 2019. The adoption of ASU 2016-16 did not have a material impact on the Company’s condensed consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” which clarifies guidance with respect to the classification of eight specific cash flow issues. ASU 2016-15 was issued to reduce diversity in practice and prevent financial statement restatements. Cash flow issues include: debt prepayment or debt extinguishment costs, settlement of zero-coupon bonds, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies and bank-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions and separately identifiable cash flows and application of the predominance principle. ASU 2016-15 is effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Under the provision, entities must apply the guidance retrospectively to all periods presented but may apply it prospectively if retrospective application would be impracticable. The Company adopted the provisions of ASU 2016-15 during the first quarter of fiscal 2019. The adoption of ASU 2016-15 did not have a material impact on the Company’s condensed consolidated financial statements.

In January 2016, the FASB issued ASU 2016-01, “Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” This standard (i) modifies how entities measure equity investments and present changes in the fair value of financial liabilities, (ii) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, (iii) changes presentation and disclosure requirements and (iv) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early application is permitted. The Company adopted the provisions of ASU 2016-15 during the first quarter of fiscal 2019. The adoption of ASU 2016-15 did not have a material impact on the Company’s condensed consolidated financial statements.

In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” This update replaces the previous revenue recognition guidance in GAAP and requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The FASB clarified this guidance by issuing ASU 2017-13, “Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments”; ASU 2016-08, “Principal versus Agent Considerations (Reporting Revenue Gross versus Net)”; ASU 2016-10, “Identifying Performance Obligations and Licensing”; ASU 2016-12, “Narrow-Scope Improvements and Practical Expedients”; and ASU 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers.” The amendments to ASU 2014-09 were intended to render more detailed implementation guidance with the expectation of reducing the degree of judgment necessary to comply with Topic 606. These new standards have the same effective date as ASU 2014-09 and were effective for public entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company adopted the provisions of ASU 2014-09, as subsequently amended, during the first quarter of fiscal 2019. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (modified retrospective method). The Company has adopted the pronouncement using a modified retrospective approach. The Company performed an analysis of its current revenue streams worldwide and identified potential changes that will result from the adoption of the new guidance. The Company has implemented changes to its accounting processes and controls to support the new revenue recognition and disclosure requirements. The adoption of Topic 606 primarily affects the wholesale operations segment in the timing of recognition of certain adjustments that were recorded in net sales. For example, the Company previously recorded markdowns and certain customer allowances when the liability was known or incurred. Please refer to footnote 2 for further details with respect to the adoption of this guidance by the Company.

Issued Accounting Guidance Being Evaluated for Adoption

In February 2018, the FASB issued ASU 2018-03, “Technical Corrections and Improvements to Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities”, which makes technical corrections to certain aspects of ASU 2016-01 (on recognition of financial assets and financial liabilities), including the following: (i) equity securities without a readily determinable fair value — discontinuation, (ii) equity securities without a readily determinable fair value — adjustments, (iii) forward contracts and purchased options, (iv) presentation requirements for certain fair value option liabilities, (v) fair value option liabilities denominated in a foreign currency and (vi) transition guidance for equity securities without a readily determinable fair value. The amendments in ASU 2018-03 are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years beginning after June 15, 2018. Public business entities with fiscal years beginning between December 15, 2017, and June 15, 2018, are not required to adopt the amendments until the interim period beginning after June 15, 2018. Early adoption of ASU 2018-03 is permitted for all entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, if they have adopted ASU 2016-01. The Company does not expect ASU 2018-03 to have an impact on its condensed consolidated financial statements.

In February 2018, the FASB issued ASU 2018-02, “Income Statement — Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”, which provides financial statement preparers with an option to reclassify stranded tax effects within accumulated other comprehensive income to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate (or portion thereof) in the TCJA is recorded. The amendments to ASU 2018-02 are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of ASU 2018-02 is permitted, including adoption in any interim period for the public business entities for reporting periods for which financial statements have not yet been issued. The amendments of ASU 2018-02 should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the TCJA is recognized. The Company is currently assessing the impact that adopting ASU 2018-02 will have on its financial statements and footnote disclosures.

In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” The primary difference between the current requirement under GAAP and ASU 2016-02 is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The FASB has continued to clarify this guidance and most recently issued ASU 2017-13, “Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments.” ASU 2016-02 requires that a lessee recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term (other than leases that meet the definition of a short-term lease). The liability will be equal to the present value of lease payments. The asset will be based on the liability, subject to adjustment, such as for initial direct costs. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Operating leases will result in straight-line expense (similar to current operating leases) while finance leases will result in a front-loaded expense pattern (similar to current capital leases). Classification will be based on criteria that are for the most part similar to those applied in current lease accounting. ASU 2016-02 may be adopted using a modified retrospective transition, and provides for certain practical expedients. Transactions will require application of the new guidance at the beginning of the earliest comparative period presented. The guidance is effective for public entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently assessing the potential impact of ASU 2016-02 on its consolidated financial statements. Given the Company’s significant number of leases, the Company expects this standard will result in a significant increase to its long-term assets and liabilities but does not expect it to have a material impact on its statements of operations. The Company is required to adopt the new standard in the first quarter of fiscal 2020 and does not expect to early adopt this new standard.

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Apr. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation As used in these financial statements, the term “Company” or “G-III” refers to G-III Apparel Group, Ltd. and its subsidiaries. The Company designs, manufactures and markets an extensive range of apparel, including outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage. The Company also operates retail stores and licenses its proprietary brands under several product categories. The Company consolidates the accounts of all its wholly-owned and majority-owned subsidiaries. KL North America BV (“KLNA”) and Fabco Holding B.V. (“Fabco”) are Dutch limited liability companies that are joint ventures that are 49% owned by the Company. Karl Lagerfeld Holding B.V. (“KLH”) is a Dutch limited liability company that is 19% owned by the Company. These investments are accounted for using the equity method of accounting. All material intercompany balances and transactions have been eliminated. Vilebrequin International SA (“Vilebrequin”), a Swiss corporation that is wholly-owned by the Company, KLH and KLNA report results on a calendar year basis rather than on the January 31 fiscal year basis used by the Company. The Company’s retail stores use a 52/53-week fiscal year. The Company’s three months ended April 30, 2017 and 2018 were both a 13-week fiscal quarter for the retail operations segment. For fiscal 2018 and 2019, the retail operations segment three month periods ended on April 29, 2017 and May 5, 2018, respectively. The results for the three-month period ended April 30, 2018 are not necessarily indicative of the results expected for the entire fiscal year, given the seasonal nature of the Company’s business. The accompanying financial statements included herein are unaudited. All adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of the financial position, results of operations and cash flows for the interim period presented have been reflected. The accompanying financial statements should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2018 filed with the Securities and Exchange Commission (the “SEC”). Each of the Company’s international subsidiaries uses its local currency as its functional currency. In accordance with the authoritative guidance, assets and liabilities of the Company’s foreign operations are translated from foreign currency into U.S. dollars at period-end rates, while income and expenses are translated at the weighted-average exchange rates for the period. The related translation adjustments are reflected as a foreign currency translation adjustment in accumulated other comprehensive income (loss) within stockholders’ equity. Certain reclassifications have been made to the Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) as a result of the Company’s reclassifying the impact of certain components of foreign currency gain (loss) from cost of goods sold and interest expense to other income. This change resulted in an increase in cost of goods sold, a decrease in interest and financing charges, net and a decrease in other loss for the three months ended April 30, 2017, compared to the amounts previously reported.
Recent Adopted and Issued Accounting Pronouncements	Recent Adopted and Issued Accounting Pronouncements Recently Adopted Accounting Guidance In May 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-09, “Compensation — Stock Compensation (Topic 718): Scope of Modification Accounting.” ASU 2017-09 provides clarification on when modification accounting should be used for changes to the terms or conditions of a share-based payment award. ASU 2017-09 does not change the accounting for modifications but clarifies that modification accounting guidance should only be applied if there is a change to the value, vesting conditions or award classification and would not be required if the changes are considered non-substantive. The amendments of ASU 2017-09 are effective for reporting periods beginning after December 15, 2017. The Company adopted the provisions of ASU 2017-09 during the first quarter of fiscal 2019. The adoption of ASU 2017-09 did not have any impact on the Company’s condensed consolidated financial statements. In December 2017, the SEC staff issued Staff Accounting Bulletin (SAB) 118 to provide guidance for companies that have not completed their accounting for the income tax effects of the Tax Cuts and Jobs Act (“TCJA”). Due to the complexities of the TCJA, our final tax liability may materially differ from provisional estimates due to additional guidance and regulations issued by the U.S. Treasury Department, the Internal Revenue Service (“IRS”) and state and local tax authorities. G-III will finalize its accounting for the TCJA during the one-year measurement period, and any adjustments to the provisional amounts will be included in income tax expense or benefit in the appropriate periods, and disclosed if material, in accordance with guidance provided by SAB 118. As of April 30, 2018, we have not identified or recorded adjustments to the provisional amounts previously disclosed in our Annual Report on Form 10-K for the year ended January 31, 2018. In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business.” The purpose of ASU 2017-01 is to clarify the definition of a business to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within that year. The amendments in ASU 2017-01 should be applied prospectively on or after the effective date. The Company adopted the provisions of ASU 2017-01 during the first quarter of fiscal 2019. The adoption of ASU 2017-01 did not have any impact on the Company’s condensed consolidated financial statements. In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.” The update requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset upon transfer other than inventory, eliminating the current recognition exception. Prior to the update, GAAP prohibited the recognition of current and deferred income taxes for intra-entity asset transfers until the asset was sold to an outside party. The amendments in this update do not include new disclosure requirements; however, existing disclosure requirements might be applicable when accounting for the current and deferred income taxes for an intra-entity transfer of an asset other than inventory. For public business entities, the amendments in this update are effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those fiscal years. The Company adopted the provisions of ASU 2016-16 during the first quarter of fiscal 2019. The adoption of ASU 2016-16 did not have a material impact on the Company’s condensed consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” which clarifies guidance with respect to the classification of eight specific cash flow issues. ASU 2016-15 was issued to reduce diversity in practice and prevent financial statement restatements. Cash flow issues include: debt prepayment or debt extinguishment costs, settlement of zero-coupon bonds, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies and bank-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions and separately identifiable cash flows and application of the predominance principle. ASU 2016-15 is effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Under the provision, entities must apply the guidance retrospectively to all periods presented but may apply it prospectively if retrospective application would be impracticable. The Company adopted the provisions of ASU 2016-15 during the first quarter of fiscal 2019. The adoption of ASU 2016-15 did not have a material impact on the Company’s condensed consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” This standard (i) modifies how entities measure equity investments and present changes in the fair value of financial liabilities, (ii) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, (iii) changes presentation and disclosure requirements and (iv) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early application is permitted. The Company adopted the provisions of ASU 2016-15 during the first quarter of fiscal 2019. The adoption of ASU 2016-15 did not have a material impact on the Company’s condensed consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” This update replaces the previous revenue recognition guidance in GAAP and requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The FASB clarified this guidance by issuing ASU 2017-13, “Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments”; ASU 2016-08, “Principal versus Agent Considerations (Reporting Revenue Gross versus Net)”; ASU 2016-10, “Identifying Performance Obligations and Licensing”; ASU 2016-12, “Narrow-Scope Improvements and Practical Expedients”; and ASU 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers.” The amendments to ASU 2014-09 were intended to render more detailed implementation guidance with the expectation of reducing the degree of judgment necessary to comply with Topic 606. These new standards have the same effective date as ASU 2014-09 and were effective for public entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company adopted the provisions of ASU 2014-09, as subsequently amended, during the first quarter of fiscal 2019. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (modified retrospective method). The Company has adopted the pronouncement using a modified retrospective approach. The Company performed an analysis of its current revenue streams worldwide and identified potential changes that will result from the adoption of the new guidance. The Company has implemented changes to its accounting processes and controls to support the new revenue recognition and disclosure requirements. The adoption of Topic 606 primarily affects the wholesale operations segment in the timing of recognition of certain adjustments that were recorded in net sales. For example, the Company previously recorded markdowns and certain customer allowances when the liability was known or incurred. Please refer to footnote 2 for further details with respect to the adoption of this guidance by the Company. Issued Accounting Guidance Being Evaluated for Adoption In February 2018, the FASB issued ASU 2018-03, “Technical Corrections and Improvements to Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities”, which makes technical corrections to certain aspects of ASU 2016-01 (on recognition of financial assets and financial liabilities), including the following: (i) equity securities without a readily determinable fair value — discontinuation, (ii) equity securities without a readily determinable fair value — adjustments, (iii) forward contracts and purchased options, (iv) presentation requirements for certain fair value option liabilities, (v) fair value option liabilities denominated in a foreign currency and (vi) transition guidance for equity securities without a readily determinable fair value. The amendments in ASU 2018-03 are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years beginning after June 15, 2018. Public business entities with fiscal years beginning between December 15, 2017, and June 15, 2018, are not required to adopt the amendments until the interim period beginning after June 15, 2018. Early adoption of ASU 2018-03 is permitted for all entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, if they have adopted ASU 2016-01. The Company does not expect ASU 2018-03 to have an impact on its condensed consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, “Income Statement — Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”, which provides financial statement preparers with an option to reclassify stranded tax effects within accumulated other comprehensive income to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate (or portion thereof) in the TCJA is recorded. The amendments to ASU 2018-02 are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of ASU 2018-02 is permitted, including adoption in any interim period for the public business entities for reporting periods for which financial statements have not yet been issued. The amendments of ASU 2018-02 should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the TCJA is recognized. The Company is currently assessing the impact that adopting ASU 2018-02 will have on its financial statements and footnote disclosures. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” The primary difference between the current requirement under GAAP and ASU 2016-02 is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The FASB has continued to clarify this guidance and most recently issued ASU 2017-13, “Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments.” ASU 2016-02 requires that a lessee recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term (other than leases that meet the definition of a short-term lease). The liability will be equal to the present value of lease payments. The asset will be based on the liability, subject to adjustment, such as for initial direct costs. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Operating leases will result in straight-line expense (similar to current operating leases) while finance leases will result in a front-loaded expense pattern (similar to current capital leases). Classification will be based on criteria that are for the most part similar to those applied in current lease accounting. ASU 2016-02 may be adopted using a modified retrospective transition, and provides for certain practical expedients. Transactions will require application of the new guidance at the beginning of the earliest comparative period presented. The guidance is effective for public entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently assessing the potential impact of ASU 2016-02 on its consolidated financial statements. Given the Company’s significant number of leases, the Company expects this standard will result in a significant increase to its long-term assets and liabilities but does not expect it to have a material impact on its statements of operations. The Company is required to adopt the new standard in the first quarter of fiscal 2020 and does not expect to early adopt this new standard.

Revenue Recognition (Tables)

3 Months Ended

Apr. 30, 2018

Revenue Recognition [Abstract]

Schedule of impact of adopting ASC 606 on Condensed Consolidated Balance Sheet

	April 30, 2018 (In thousands)
	As Reported		Without Adoption of ASC 606		Impact of Adoption of ASC 606
Assets
Accounts receivable, net	$	429,146		282,902		146,244
Inventories		463,463		502,819		(39,356	)
Prepaid expenses and other current assets		102,072		62,859		39,213
Deferred income tax assets, net		27,982		11,438		16,544

Liabilities
Accrued expenses	$	86,058		82,648		3,410
Customer refund liabilities		214,693		-		214,693

Equity
Retained earnings		630,633		686,091		(55,458	)

Schedule of impact of adopting ASC 606 on Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss)

	For the three months ended April 30, 2018 (In thousands)
	As Reported		Without Adoption of ASC 606		Impact of Adoption of ASC 606
Net sales	$	611,743		619,341		(7,598	)
Cost of goods sold		377,216		376,163		1,053
Selling general and administrative expenses		202,071		208,723		(6,652	)
Income tax expense		3,120		3,389		(269	)
Net income		9,885		11,615		(1,730	)

Earnings per share
Basic		0.20		0.24		(0.04	)
Diluted		0.20		0.23		(0.03	)

Fair Value of Financial Instruments (Tables)

3 Months Ended

Apr. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of carrying values and estimated fair values of debt instruments

			Carrying Value				Fair Value
Financial Instrument	Level		4/30/2018		1/31/2018		4/30/2018		1/31/2018
			(in thousands)
Term Loan		3	$	300,000	$	300,000	$	300,000	$	300,000
Revolving credit facility		3	$	67,377	$	12,003	$	67,377	$	12,003
Note issued to LVMH		3	$	92,860	$	91,667	$	85,000	$	85,000

Net Income (Loss) per Common Share (Tables)

3 Months Ended

Apr. 30, 2018

Schedule of reconciliation between basic and diluted net income per share

	Three Months Ended April 30,
	2018		2017

Net income (loss)	$	9,885	$	(10,391	)
Basic net income (loss) per share:
Basic common shares		49,127		48,648
Basic net income (loss) per share	$	0.20	$	(0.21	)

Diluted net income (loss) per share:
Basic common shares		49,127		48,648
Diluted restricted stock awards and stock options		1,010		—
Diluted common shares		50,137		48,648
Diluted net income (loss) per share	$	0.20	$	(0.21	)

Notes Payable (Tables)

3 Months Ended

Apr. 30, 2018

Debt Disclosure [Abstract]

Schedule of long-term debt

	April 30, 2018			April 30, 2017			January 31, 2018

Term loan	$	300,000		$	300,000		$	300,000
Revolving credit facility		67,377			120,000			12,003
Note issued to LVMH		125,000			125,000			125,000
Subtotal		492,377			545,000			437,003
Less: Net debt issuance costs⁽¹⁾		(11,974	)		(14,585	)		(12,626	)
Debt discount		(32,140	)		(37,619	)		(33,333	)
Total	$	448,263		$	492,796		$	391,044

(1)

Does not include the debt issuance costs, net of amortization, totaling $8.9 million, $11.3 million and $9.5 million as of April 30, 2018, April 30, 2017 and January 31, 2018, respectively, related to the revolving credit facility. The debt issuance costs have been deferred and are classified in prepaid expense in the accompanying Condensed Consolidated Balance Sheets as required under Accounting Standards Update (“ASU”) 2015-15.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Segments (Tables)

3 Months Ended

Apr. 30, 2018

Segment Reporting [Abstract]

Schedule of information regarding reportable segments

	Three Months Ended April 30, 2018
	Wholesale		Retail			Elimination ⁽¹⁾			Total
Net sales	$	527,673	$	104,519		$	(20,449	)	$	611,743
Cost of goods sold		341,575		56,090			(20,449	)		377,216
Gross profit		186,098		48,429			—			234,527
Selling, general and administrative		136,413		65,658			—			202,071
Depreciation and amortization		7,136		2,244			—			9,380
Operating profit (loss)	$	42,549	$	(19,473	)	$	—		$	23,076

	Three Months Ended April 30, 2017
	Wholesale		Retail			Elimination ⁽¹⁾			Total
Net sales ⁽²⁾	$	453,313	$	99,185		$	(23,456	)	$	529,042
Cost of goods sold		298,300		52,482			(23,456	)		327,326
Gross profit		155,013		46,703			—			201,716
Selling, general and administrative		130,160		67,251			—			197,411
Depreciation and amortization		6,385		3,453			—			9,838
Operating profit (loss)	$	18,468	$	(24,001	)	$	—		$	(5,533	)

⁽¹⁾

Represents intersegment sales to the Company’s retail operations.

⁽²⁾

Schedule of total assets for each reportable segments

	April 30, 2018		April 30, 2017		January 31, 2018
	(In thousands)
Wholesale	$	1,655,714	$	1,459,142	$	1,554,191
Retail		211,475		205,024		215,568
Corporate		173,374		139,622		145,418
Total Assets	$	2,040,563	$	1,803,788	$	1,915,177

Basis of Presentation (Detail Textuals)	Apr. 30, 2018
Karl Lagerfeld Holding B.V. ("KLH")
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest	19.00%
KL North America BV ("KLNA") and Fabco Holding B.V. ("Fabco")
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest	49.00%

Revenue Recognition (Details) - USD ($)
$ in Thousands

Apr. 30, 2018

Jan. 31, 2018

Apr. 30, 2017

Assets

Accounts receivable, net of allowance for doubtful accounts

$ 429,146

$ 294,430

^[1]

$ 256,212

^[1]

463,463

553,323

445,969

Deferred income tax assets, net

102,072

51,014

55,474

27,982

11,439

15,901

Liabilities

86,058

95,055

75,197

214,693

Equity

Without Adoption of ASC 606

630,633

$ 674,542

$ 602,027

Assets

Accounts receivable, net of allowance for doubtful accounts

282,902

502,819

Deferred income tax assets, net

62,859

11,438

Liabilities

82,648

Equity

Impact of Adoption of ASC 606

686,091

Assets

Accounts receivable, net of allowance for doubtful accounts

146,244

(39,356)

Deferred income tax assets, net

39,213

16,544

Liabilities

3,410

214,693

Equity

Revenue, Initial Application Period Cumulative Effect Transition [Line Items]

$ (55,458)

[1]	Also, net of accrued returns and sales discounts

Revenue Recognition (Details 1) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

Apr. 30, 2018

Apr. 30, 2017

$ 611,743

$ 529,042

^[1],[2]

377,216

327,326

^[1]

202,071

197,411

^[1]

Income tax expense

3,120

(6,103)

^[1]

Net income

$ 9,885

$ (10,391)

Basic (in dollars per share)

$ 0.20

$ (0.21)

^[1]

Diluted (in dollars per share)

$ 0.20

$ (0.21)

^[1]

Without Adoption of ASC 606

Revenue, Initial Application Period Cumulative Effect Transition [Line Items]

$ 619,341

376,163

208,723

Income tax expense

3,389

Net income

$ 11,615

Basic (in dollars per share)

$ 0.24

Diluted (in dollars per share)

$ 0.23

Impact of Adoption of ASC 606

Revenue, Initial Application Period Cumulative Effect Transition [Line Items]

$ (7,598)

1,053

(6,652)

Income tax expense

(269)

Net income

$ (1,730)

Basic (in dollars per share)

$ (0.04)

Diluted (in dollars per share)

$ (0.03)

[1]	(As Adjusted)
[2]	Certain reclassifications have been made between the wholesale operations segment and the elimination column as a result of sales eliminations within the wholesale operations segment being misclassified as inter-segment eliminations.

Revenue Recognition (Detail Textuals) - USD ($) $ in Thousands	Apr. 30, 2018	Feb. 01, 2018	Jan. 31, 2018	Apr. 30, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ 630,633		$ 674,542	$ 602,027
Customer refund liability	214,693
Contract liability	1,800		1,800
Amount of reduce in stockholders equity	1,082,924		$ 1,120,689	$ 1,016,060
Impact of Adoption of ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	(55,458)
Customer refund liability	$ 214,693
Amount of reduce in stockholders equity		$ 53,700

Inventories (Detail Textuals) - USD ($) $ in Millions	Apr. 30, 2018	Jan. 31, 2018	Apr. 30, 2017
Inventory Disclosure [Abstract]
Anticipated inventory return asset	$ 39.4	$ 39.4	$ 25.3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Jan. 31, 2018	Apr. 30, 2017
Debt Instrument [Line Items]
Debt instruments, carrying value	$ 492,377	$ 437,003	$ 545,000
Term loan
Debt Instrument [Line Items]
Debt instruments, carrying value	300,000	300,000	300,000
Revolving credit facility
Debt Instrument [Line Items]
Debt instruments, carrying value	67,377	12,003	120,000
Note issued to LVMH
Debt Instrument [Line Items]
Debt instruments, carrying value	125,000	125,000	$ 125,000
Level 3 \| Term loan
Debt Instrument [Line Items]
Debt instruments, carrying value	300,000	300,000
Debt instruments, fair value	300,000	300,000
Level 3 \| Revolving credit facility
Debt Instrument [Line Items]
Debt instruments, carrying value	67,377	12,003
Debt instruments, fair value	67,377	12,003
Level 3 \| Note issued to LVMH
Debt Instrument [Line Items]
Debt instruments, carrying value	92,860	91,667
Debt instruments, fair value	$ 85,000	$ 85,000

Net Income (Loss) per Common Share - Reconciliation between basic and diluted net income per share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

Apr. 30, 2018

Apr. 30, 2017

Net income (loss) (in dollars)

$ 9,885

$ (10,391)

^[1]

Basic net income (loss) per share:

Basic common shares

49,127

48,648

^[1]

Basic net income (loss) per share (in dollars per share)

$ 0.20

$ (0.21)

^[1]

Diluted net income (loss) per share:

Basic common shares

49,127

48,648

^[1]

Diluted restricted stock awards and stock options

1,010

Diluted common shares

50,137

48,648

^[1]

Diluted net income (loss) per share (in dollars per share)

$ 0.20

$ (0.21)

^[1]

[1]	(As Adjusted)

Net Income (Loss) per Common Share (Detail Textuals) - shares shares in Thousands	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Earnings per share
Common stock excluded from the diluted net income per share calculation	341,700
Common stock issued in connection with exercise or vesting of equity awards	6,000	14,275
Shares release from treasury stock in connection with the exercise or vesting of equity awards	34,515	6,800

Notes Payable (Details) - USD ($)
$ in Thousands

Apr. 30, 2018

Jan. 31, 2018

Apr. 30, 2017

Less: Net debt issuance costs

$ 492,377

$ 437,003

$ 545,000

^[1]

(11,974)

(12,626)

(14,585)

(32,140)

(33,333)

(37,619)

Total

448,263

391,044

492,796

Term loan

Revolving credit facility

300,000

Less: Net debt issuance costs

67,377

12,003

120,000

(8,900)

(9,500)

(11,300)

Note issued to LVMH

125,000

$ 125,000

$ (40,000)

[1]

Does not include the debt issuance costs, net of amortization, totaling $8.9 million, $11.3 million and $9.5 million as of April 30, 2018, April 30, 2017 and January 31, 2018, respectively, related to the revolving credit facility. The debt issuance costs have been deferred and are classified in prepaid expense in the accompanying Condensed Consolidated Balance Sheets as required under Accounting Standards Update ("ASU") 2015-15.

Notes Payable (Detail Textuals) - USD ($)
$ in Thousands

3 Months Ended

Dec. 01, 2016

Apr. 30, 2018

Jan. 31, 2018

Apr. 30, 2017

Debt issuance costs

^[1]

$ 11,974

$ 12,626

$ 14,585

32,140

33,333

37,619

Term loan

Maximum borrowing capacity

$ 350,000

Amortization payments percentage of original aggregate principal amount

0.625%

Prepayment of principle amount

$ 50,000

Floor rate

1.00%

Applicable margin

5.25%

Debt instrument interest rate

7.01%

Interest rate terms

Interest on the outstanding principal amount of the Term Loan accrues at a rate equal to LIBOR, subject to a 1% floor, plus an applicable margin of 5.25% or an alternate base rate (defined as the greatest of (i) the "prime rate" as published by the Wall Street Journal from time to time, (ii) the federal funds rate plus 0.5% or (iii) the LIBOR rate for a borrowing with an interest period of one month) plus 4.25%, per annum, payable in cash. As of April 30, 2018, interest under the Term Loan was being paid at an average rate of 7.01% per annum.

Term loan | LIBOR plus

Term loan | Federal funds rate plus

4.25%

Revolving credit facility

0.50%

LIBOR rate for borrowing with an interest period of one month

Maximum borrowing amount

$ 650,000

0.25%

Debt instrument commitment fee percentage

0.25%

Term of credit agreement

5 years

Debt issuance costs

$ 8,900

$ 9,500

$ 11,300

Debt instrument interest rate

3.59%

Revolving credit facility | Long-term liabilities

Revolving credit facility | Trade letters of credit

Borrowings outstanding

$ 67,400

Revolving credit facility | Standby letters of credit

Borrowings outstanding

13,900

Revolving credit facility | LIBOR plus | Minimum

Borrowings outstanding

$ 3,400

LIBOR rate for borrowing with an interest period of one month

1.25%

0.25%

Revolving credit facility | LIBOR plus | Maximum

LIBOR rate for borrowing with an interest period of one month

1.75%

0.75%

Revolving credit facility | Federal funds rate plus

0.50%

LVMH Note

Maximum borrowing capacity

$ 125,000

Debt instrument interest rate

2.00%

LVMH Note | Notes Payable due on June 1, 2023

$ 40,000

LVMH Note | Notes Payable due on December 1, 2023

Note due and payable

75,000

Note due and payable

$ 50,000

[1]

Does not include the debt issuance costs, net of amortization, totaling $8.9 million, $11.3 million and $9.5 million as of April 30, 2018, April 30, 2017 and January 31, 2018, respectively, related to the revolving credit facility. The debt issuance costs have been deferred and are classified in prepaid expense in the accompanying Condensed Consolidated Balance Sheets as required under Accounting Standards Update ("ASU") 2015-15.

Segments - Information regarding reportable segments (Details) - USD ($)
$ in Thousands

3 Months Ended

Apr. 30, 2018

Apr. 30, 2017

$ 611,743

$ 529,042

^[1],[2]

377,216

327,326

^[1]

234,527

201,716

^[1]

202,071

197,411

^[1]

9,380

9,838

Operating Segments | Wholesale

23,076

(5,533)

^[1]

527,673

453,313

^[2]

341,575

298,300

186,098

155,013

136,413

130,160

7,136

6,385

Operating Segments | Retail

42,549

18,468

104,519

99,185

^[2]

56,090

52,482

48,429

46,703

65,658

67,251

2,244

3,453

(19,473)

(24,001)

Elimination

^[3]

(20,449)

(23,456)

^[2]

^[3]

(20,449)

(23,456)

^[3]

^[3]

^[3]